Secrets of Bookkeeping

In this module (18 of 46 in the Real Estate Investing Secrets course), you will learn:

• What are the ways that real estate investors can use to keep their books (track income and expenses) for their real estate investing business?

• What is the one tool that helps you get and stay organized and allows you to easily share and back up all your digital files?

• How should you organize your physical/digital files to make it easier to manage the paperwork for your real estate investing business?

• For real estate entrepreneurs dealing with seller leads, what is the recommended folder/file structure for managing all your seller property information files? How does this change if you’re doing it with physical files versus digital files?

• Why do you insist on a specific file naming convention? And, what is that naming convention?

• What is included in a typical Seller Property Information File?

• How do you recommend setting up your property files for rental properties you own?

• What is typically kept in the general folder for all properties? What about each individual property file… what do you typically keep in those?

• What do you typically keep in each entity file?

• How do you process digital communications (emails, calls, texts, PDFs, etc)? How do you process physical communications (paperwork, mail, bills, letters, etc)?

• How do you set up your file system for tenants and property management?

• How do you set up your file system for taxes?

• What information will you need for each property to do your own taxes or to send to your accountant/CPA?

• Do we get to deduct the entire mortgage payment? How do we get the number we can deduct?

• Do we get to deduct the entire capital improvement? How much can we deduct under the safe harbor provision from the IRS?

• How much can we write off for each mile traveled associated with our real estate investing business?

• Plus, much, much more…

Secrets of Bookkeeping

Here are the slides from the presentation for your convenience…